Foreign Reserves rose by $10.6 million over October

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $10.6 million over the month of October 2017 to $413.6 million, equivalent to 6.9 months of imports. Over the past year, the official foreign reserves rose by $46.6 million.

OFFICIAL FOREIGN RESERVES

(millions of pa'anga)

Level

Changes

Ration of official foreign reserves to imports i (months)

Month

12 Months

2016

Apr

322.9

5.6

50.8

6.7

May

330.7

7.8

48.9

6.9r

Jun

354.9

24.2

65.2

7.1r

Jul

367.4

12.5

64.8

7.2r

Aug

366.3

-1.1

55.4

7.0r

Sep

363.7

-2.6

52.0

6.9r

Oct

367.0

3.3

51.2

7.0r

Nov

360.9

-6.1

41.9

6.8r

Dec

378.8

17.9

51.0

7.0r

2017

Jan

380.8

2.0

54.5

7.0r

Feb

377.7

-3.1

49.2

6.9r

Mar

366.0

-11.7

48.7

6.5r

Apr

371.7

5.7

48.8

6.6r

May

392.3

20.6

61.6

7.0r

Jun

407.9

15.6

53.0

7.1r

Jul

408.9

1.0

41.5

7.0r

Aug

405.0

-3.9

38.7

6.9r

Sep

403.0

-2.0

39.3

6.8r

Oct

413.6

10.6

46.6

6.9

Source: National Reserve Bank of Tonga

i - Method of calculation changed in February 2017 to include imports of both goods and services (previous method used imports of goods only).